Price Structuring in Construction Contracts: Advantages and Pitfalls of GMP, Cost-Plus, and Fixed Cost Contracts
Recording of a 90-minute CLE webinar with Q&A
This CLE course will examine several distinct versions of AIA construction contracts that attempt to allocate the costs between the contractor and the owner. The panel will explain the advantages and disadvantages of guaranteed maximum price (GMP) agreements, comparing a cost-plus contract with and without a GMP, and a fixed-cost construction contract, while providing counsel on best practices for drafting these agreements.
- Cost-plus (with and without a GMP)
- Scope of services
- Fixed cost
- Scope of services
- Insurance and indemnification
- Project changes and delays
- Dispute resolution and termination
The panel will review these and other key issues:
- What are the main types of cost structuring in construction contracts and what distinguishes each form from the others?
- Is there a best form of price structuring that addresses future scope of service disputes?
- What factors should construction counsel consider when tailoring a professional association standard form to a particular project?
Gary L. Brown
Mr. Brown is a Partner in the firm’s Fort Lauderdale office and is the Head of the firm’s Construction... | Read More
Mr. Brown is a Partner in the firm’s Fort Lauderdale office and is the Head of the firm’s Construction Practice Group. He focuses his practice on complex commercial and general business litigation. He is Board Certified by The Florida Bar in Construction Law.
Overseeing the firm’s construction practice, Mr. Brown assists businesses in both complex and routine matters with substantial experience in construction-related issues. He has tremendous experience handling construction matters in state and federal, trial and appellate courts, throughout Florida. Mr. Brown has conducted numerous trials and arbitrations to a successful conclusion for his clients. He is well versed in handling matters related to contract drafting and negotiation, dispute resolution, Florida’s construction lien law, payment and performance bond claims, construction and design defect claims, delay, inefficiency, and acceleration claims, and insurance/coverage disputes.
Mr. Brown also represents municipalities and local governments in all aspects of public works projects including procurement documents, bid protests, and construction and design agreements.Close
Law Office of Ray Garcia
Mr. Garcia is the senior attorney at the Law Office of Ray Garcia, P.A. He was born in Miami, Florida. Mr. Garcia is a... | Read More
Mr. Garcia is the senior attorney at the Law Office of Ray Garcia, P.A. He was born in Miami, Florida. Mr. Garcia is a graduate of Nova Southeastern University Shepard Broad Law Center (J.D.). He has been admitted to the Florida Bar since 1997 and is a Board Certified Real Estate Lawyer. Mr. Garcia is also AV Rated by Martindale Hubbell.Close